Chevrolet Corvette Insurance Rates

Are Corvettes expensive to insure? Corvettes can be more expensive to insure than most vehicles. Exactly how much is Corvette insurance from major insurers? The average insurance cost for a Corvette is $1,864 a year, or $155 a month. Read on to learn how to find the cheapest Chevrolet Corvette insurance rates.

Enter your ZIP code in our free rate tool above to start comparing Corvette insurance quotes and save on Corvette insurance costs.

U.S. average insurance rates for a Chevrolet Corvette are $1,790 a year with full coverage. Comprehensive costs approximately $494 a year, collision costs $922, and liability costs around $264. A policy with just liability insurance costs as low as $312 a year, with coverage for high-risk drivers costing around $3,870. Teen drivers pay the highest rates at $6,090 a year or more.

Average premium for full coverage: $1,790

Price estimates by individual coverage:

Estimates include $500 policy deductibles, minimum liability limits, and includes medical/PIP and uninsured motorist coverage. Estimates are averaged for all U.S. states and Corvette trim levels.

Price Range from Low to High

Geographic Price Range

Where you live can make a big difference on the price of insurance. Rural locations have lower incidents of collision claims than larger metro areas.

The diagram below illustrates the difference location can make on auto insurance prices.

The ranges above demonstrate why it is important to compare prices using their specific location, instead of making a decision based on price averages.

Use the form below to get customized rates for your location.

Additional Charts and Tables

The chart below details estimated Chevrolet Corvette insurance rates for additional coverage and risk scenarios.

• The lowest rate with discounts is $977
• Using higher $1,000 deductibles will save $1,470 annually
• The estimated price for the average middle-age driver who chooses $500 deductibles is $1,790
• Choosing low $100 deductibles for physical damage coverage bumps up the cost to $2,418
• High-risk insureds with multiple violations and an at-fault accident could pay around $3,870 or more
• The price that insures a 16-year-old driver can cost $6,090 or more

View Chart as Image

Insurance prices for a Chevrolet Corvette are also quite variable based on the trim level of your Corvette, your age and driving habits, and physical damage deductibles and liability limits.

If you have some driving violations or you caused an accident, you may be forking out anywhere from $2,100 to $2,800 extra each year, depending on your age. A high-risk auto insurance policy can be from 46% to 132% more than average. View High Risk Driver Rates

Older drivers with a clean driving record and higher comprehensive and collision deductibles may pay as low as $1,600 a year for full coverage. Prices are highest for teenage drivers, since even teens with perfect driving records can expect to pay in the ballpark of $6,000 a year. View Rates by Age

The state you live in has a huge impact on Chevrolet Corvette insurance prices. A driver around age 40 might see prices as low as $1,290 a year in states like Utah, Ohio, and New Hampshire, or as much as $2,410 on average in New York, Michigan, and Florida.

View Chart as Image

Choosing high deductibles could cut prices by as much as $950 annually, while buying higher liability limits will push prices upward. Moving from a 50/100 bodily injury protection limit to a 250/500 limit will increase prices by as much as $237 more per year. View Rates by Deductible or Liability Limit

Since prices can be so different, the best way to find out who has the cheapest auto insurance prices is to get quotes from multiple companies. Each insurance company uses a different rate calculation, so the prices may be quite different.

Insurance Rates by Trim Level and Model Year

Rates assume 2023 model year, a 40-year-old male driver with no accidents or violations, $500 comprehensive and collision deductibles, minimum liability limits, and uninsured/under-insured motorist coverage included. Rates are for comparison only and are averaged for all 50 U.S. states.

How to Find Low Cost Chevrolet Corvette Insurance

Getting lower rates on insurance for a Chevrolet Corvette requires being a good driver, having above-average credit, avoid buying unnecessary coverage, and maximizing policy discounts. Shop around every couple of years by requesting rates from direct companies, and also from local insurance agencies.

The following list is a review of the material that was touched on in this article.

• Insureds who purchase an increased level of liability coverage will pay about $290 every year to increase from a low limit to the 250/500 level
• Drivers age 16 to 20 are expensive to insure, costing up to $508 a month if full coverage is included
• Drivers considered higher risk who have several accidents or serious violations may have to pay on average $2,080 more per year than a safer driver
• Increasing physical damage deductibles can save approximately $950 each year

How much does it cost to insure a Corvette if you have a poor record? Generally, the cost to insure a Corvette will be at least $500 more if you have a DUI or reckless driving charge. And if you are wondering how much is insurance on a Corvette for a 16 or 18-year-old, it will usually be at least $1,000 more than a normal policy.

The best way to find cheap Corvette average prices is to shop around for a Corvette comparison chart of insurance rates. Whether you are looking for the best Corvette insurance as a 20-year-old or want to find out how much is insurance for a 2019 or 2020 Corvette, shop around to find the best Corvette car insurance price.

It’s important to also know if you need collector car insurance or standard auto insurance. There are different auto insurance companies, and some do both or just one type. Classic car insurance is for an older collector vehicle that needs to be insured a bit different than your standard newer vehicle.

Use our free tool below to shop around for everything from the insurance cost for a Corvette Stingray to Corvette insurance costs for 18-year-olds and 20-year-olds.

What are the safety ratings of the Chevrolet Corvette?

Chevrolet Corvette safety ratings and features are important when it comes to calculating rates. The safer your car is, the more discounts you will receive. The newest model of the Chevrolet Corvette has some great advanced safety features, such as a rearview camera, a head-up display, and a front curb-view parking camera.

However, the Insurance Institute of Highway Safety (IIHS) has not crash-tested the Chevrolet Corvette. This means that insurance costs will be calculated on overall crash test ratings for sports cars, even if the Chevrolet Corvette is safer than other sports cars.

How does the Chevrolet Corvette compare against other vehicles in the same class?

The Chevrolet Corvette is a midsize, luxury sports car, which usually means it will have higher liability rates because it is more prone to crashing. While 2014 Corvette insurance rates might be different than insurance on a 2020 Corvette because the 2020 model has more safety features that prevent crashes, you can expect rates on luxury sports cars to be higher on all model years.

The good news is that the IIHS found that the Chevrolet Corvette’s liability rates were substantially better than average in comparison to other sports cars. This doesn’t mean you’ll have cheap rates, but your rates will be cheaper than average for sports cars.

If you are curious how the Chevrolet Corvette’s insurance rates compare to other sports cars, take a look at the list below.

• Ford Mustang GT Insurance Rates
• Mercedes-Benz SL Class Insurance Rates
• Nissan 370Z Insurance Rates

Ready to start shopping for Corvette insurance? Whether you want 2019 or 2020 Corvette insurance cost comparisons or a decades-old model quote, enter your ZIP code in our free tool.

References

1. https://www.iihs.org/ratings/insurance-losses-by-make-and-model